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{"id":2432,"date":"2021-08-03T16:10:55","date_gmt":"2021-08-03T16:10:55","guid":{"rendered":"https:\/\/www.cryptocurrencypanther.com\/2021\/08\/03\/why-nfts-could-supercharge-defi-%e2%9a%a1%ef%b8%8f\/"},"modified":"2021-08-03T16:10:55","modified_gmt":"2021-08-03T16:10:55","slug":"why-nfts-could-supercharge-defi-%e2%9a%a1%ef%b8%8f","status":"publish","type":"post","link":"https:\/\/cryptocurrencypanther.com\/2021\/08\/03\/why-nfts-could-supercharge-defi-%e2%9a%a1%ef%b8%8f\/","title":{"rendered":"Why NFTs Could SUPERCHARGE DEFI!! \u26a1\ufe0f"},"content":{"rendered":"

\ud83d\udd25 TOP Crypto TIPS In My Newsletter \ud83d\udc49 https:\/\/guy.coinbureau.com\/signup\/
\n\ud83d\uded2 Get NFT Blockchain Domains \ud83d\udc49 https:\/\/guy.coinbureau.com\/unstoppable-domains\/
\n\ud83d\uddfb Get The Top Deals In Crypto \ud83d\udc49 https:\/\/guy.coinbureau.com\/deals\/
\n\ud83d\udcf2 Coin Bureau Insider Channel \ud83d\udc49 https:\/\/t.me\/cbinsider
\n\ud83d\udc26 Follow Our Twitter \ud83d\udc49 https:\/\/twitter.com\/coinbureau<\/p>\n

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~<\/p>\n

– TIMESTAMPS –
\n0:00 Intro
\n1:47 What are NFTs?
\n5:05 Why do I think NFTs could be big?
\n6:51 NFTs & DeFi
\n12:57 Video games & NFTs
\n16:15 Blockchain art & NFTs
\n16:56 The hottest NFT asset right now
\n19:29 Final thoughts<\/p>\n

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~<\/p>\n

\ud83d\udcfa Recommended Videos \ud83d\udcfa<\/p>\n

\u25ba Why do blockchain domains have insane potential? \ud83d\udc49 https:\/\/www.youtube.com\/watch?v=TO3yqHQyc8E&t
\n\u25ba Kava: The DeFi token you need to know \ud83d\udc49 https:\/\/www.youtube.com\/watch?v=I5iPTyfitZA&t<\/p>\n

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~<\/p>\n

\u26d3\ufe0f \ud83d\udd17 Useful Links \ud83d\udd17 \u26d3\ufe0f<\/p>\n

\u25ba Outlook report for NFT\u2019s 2020: https:\/\/nonfungible.com\/blog\/nft-yearly-report-2019
\n\u25ba Tinlake: https:\/\/tinlake.centrifuge.io
\n\u25ba RocketNFT: https:\/\/twitter.com\/rocketnft?lang=en
\n\u25ba Non-fungible token marketcaps: https:\/\/nonfungible.com\/market\/history
\n\u25ba Most expensive domain names: https:\/\/nonfungible.com\/market\/history
\n\u25ba Blockchain domains are selling for a fortune: https:\/\/www.coindesk.com\/600k-ethereum-name-thriving-auction-market-underway<\/p>\n

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~<\/p>\n

\ud83d\udcdd Overview \ud83d\udcdd<\/p>\n

It\u2019s no secret that the DeFi space has been on a tear recently. However, that got me thinking… What will be the next hot crypto sector after DeFi?<\/p>\n

After pontificating about this for some time, I reckon that NFT\u2019s will be the one of the next biggest sectors in crypto. I explain my reasons why in this video.<\/p>\n

\u2753 What Are NFTs \u2753<\/p>\n

Non-fungible tokens, or NFTs for short, are essentially digital collectibles. These cryptographic tokens represent something unique and have these four properties:<\/p>\n

\u25ba They cannot be replicated.
\n\u25ba They cannot be counterfeited.
\n\u25ba You can\u2019t print them on demand.
\n\u25ba They have the same ownership right and permanence guarantees as Bitcoin. However, the collectible can be personalized and unique.<\/p>\n

The classic example of an NFT is a crypto Kitty. However, there are two main NFT token standards right now. The first is ERC-721 which are straight up non-fungible tokens like crypto kitties and the second are ERC-1155 tokens, which combine the benefits of both non-fungible and fungible tokens together.<\/p>\n

ERC-1155 tokens are particularly interesting for computer games. Mythical weapons on Fortnite are unique and can be issued as NFTs. However, the game has an in-game currency called bucks, which are perfectly interchangeable. This is why game developers kinda need both fungible and non-fungible tokens and ERC-1155 allows them to do that!<\/p>\n

\ud83e\udd11 NFTs & DeFi \ud83e\udd11<\/p>\n

The NFT market is projected to hit $315 million in 2020. That\u2019s a 50% increase versus last year. This is pretty solid, however, the DeFi market has already had a six times increase this year and stands at around $4 billion in value.<\/p>\n

That huge growth in DeFi is thanks to providing three core services:<\/p>\n

\u25ba Issuing collateralized loans
\n\u25ba Earning interest
\n\u25ba Decentralized trading<\/p>\n

\ud83d\udcb8 NFTs Can Supercharge DeFi \ud83d\udcb8<\/p>\n

Yes, DeFi has grown a lot. However, it is basically contained to the current crypto ecosystem. DeFi loans are after all secured by cryptocurrency. <\/p>\n

I think that the natural progression of all this is being able to lend against real-world assets. That\u2019s damn exciting because it can open up DeFi to a completely new type of audience and fuel further growth.<\/p>\n

There is one platform doing that right now and that would be Tinlake. They are also using NFTs to make that happen. Be sure to watch the video to learn more!<\/p>\n

\ud83d\udda5\ufe0f Gaming \ud83d\udda5\ufe0f<\/p>\n

If you look at nonfungible.com you\u2019ll see that 7 of the top 10 NFT projects are games. The exciting thing about that is that we only need one blockchain game to pop and we could see millions of new people enter crypto. If that comes to pass NFTs are set to play a key role.<\/p>\n

\ud83d\uddbc\ufe0f Art \ud83d\uddbc\ufe0f<\/p>\n

Blockchain art has surprisingly begun to take off this year. Artwork is basically represented by NFTs and that allows artists to release limited-edition artwork tracked on the blockchain, making it rare and collectable. <\/p>\n

\ud83d\udcb0 Blockchain Domains \ud83d\udcb0<\/p>\n

Watch the video to find out why I think blockchain domains could be the most profitable NFT asset out there.<\/p>\n

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~<\/p>\n

\ud83d\udcdc Disclaimer \ud83d\udcdc<\/p>\n

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.<\/p>\n

#crypto #nft #ethereum #defi #collectibles #gaming #eth
\n
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\ud83d\udd25 TOP Crypto TIPS In My Newsletter \ud83d\udc49 https:\/\/guy.coinbureau.com\/signup\/ \ud83d\uded2 Get NFT Blockchain Domains \ud83d\udc49 https:\/\/guy.coinbureau.com\/unstoppable-domains\/ \ud83d\uddfb Get The Top Deals In Crypto \ud83d\udc49 https:\/\/guy.coinbureau.com\/deals\/ \ud83d\udcf2 Coin Bureau Insider Channel \ud83d\udc49 https:\/\/t.me\/cbinsider \ud83d\udc26 Follow Our Twitter \ud83d\udc49 https:\/\/twitter.com\/coinbureau ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ – TIMESTAMPS – 0:00 Intro 1:47 What are NFTs? 5:05 Why do I think NFTs could […]<\/p>\n","protected":false},"author":1,"featured_media":2433,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[33],"tags":[191,119,1470],"class_list":{"0":"post-2432","1":"post","2":"type-post","3":"status-publish","4":"format-video","5":"has-post-thumbnail","7":"category-videos","8":"tag-defi","9":"tag-nfts","10":"tag-supercharge","11":"post_format-post-format-video"},"_links":{"self":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/2432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/comments?post=2432"}],"version-history":[{"count":0,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/2432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media\/2433"}],"wp:attachment":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media?parent=2432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/categories?post=2432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/tags?post=2432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}